Structuring Transactions to Evade Reporting Requirements

• Category: Federal - Jury Instructions - 5th Circuit - Criminal
• State: Multi-State
• Control #: US-5THCIR-CR-2-104
• Format: Word

Description

Structuring Transactions to Evade Reporting Requirements Structuring transactions to evade reporting requirements is a form of financial fraud in which an individual or business attempts to avoid payment of certain taxes by breaking up financial transactions into smaller amounts. This activity is also known as surfingng” due to the practice of using multiple people, or “smurfs”, to buy multiple items in amounts below the reporting threshold. Structuring is illegal and can be prosecuted both civilly and criminally. Types of Structuring Transactions to Evade Reporting Requirements include: 1. Bank Deposits: Breaking up a large cash deposit into smaller amounts to avoid the reporting requirements for deposits over a certain threshold. 2. Structured Withdrawals: Breaking up a large withdrawal into smaller amounts to avoid the reporting requirements for withdrawals over a certain threshold. 3. Money Transfers: Breaking up a large money transfer or wire transfer into smaller amounts to avoid the reporting requirements for transfers over a certain threshold. 4. Cash Purchases: Breaking up a large cash purchase into smaller amounts to avoid the reporting requirements for purchases over a certain threshold.

Structuring transactions to evade reporting requirements is a form of financial fraud in which an individual or business attempts to avoid payment of certain taxes by breaking up financial transactions into smaller amounts. This activity is also known as surfingng” due to the practice of using multiple people, or “smurfs”, to buy multiple items in amounts below the reporting threshold. Structuring is illegal and can be prosecuted both civilly and criminally. Types of Structuring Transactions to Evade Reporting Requirements include: 1. Bank Deposits: Breaking up a large cash deposit into smaller amounts to avoid the reporting requirements for deposits over a certain threshold. 2. Structured Withdrawals: Breaking up a large withdrawal into smaller amounts to avoid the reporting requirements for withdrawals over a certain threshold. 3. Money Transfers: Breaking up a large money transfer or wire transfer into smaller amounts to avoid the reporting requirements for transfers over a certain threshold. 4. Cash Purchases: Breaking up a large cash purchase into smaller amounts to avoid the reporting requirements for purchases over a certain threshold.